According to CoinMeta, despite the price of UNI falling by over 14% in the past week, the on-chain activity of Uniswap remains strong. In July, Uniswap recorded a trading volume of 53.4 billion US dollars and generated fees of 98.37 million US dollars in the past 30 days, continuing to maintain its position as the largest decentralized exchange. This sharp price drop was not due to hacker attacks or regulatory actions, but rather due to traders' concerns that holders of UNI tokens were not receiving sufficient value from the fees generated by the protocol. Defillama data shows that Uniswap only captured 5.3% of the fees, while Hyperliquid reached 69.5%. Uniswap has also introduced new features that allow users to deposit USDC, USDT, or ETH and earn profits.